Wells Fargo Increases Bally Technologies Estimates

Wells Fargo is increasing its Bally Technologies Inc.

FY 2011 and FY 2012 EPS estimates and its year end 2011 base case valuation. “Our FY 2011 EPS goes to $2.15 from $2.13 and our FY 2012 EPS goes to $2.78 from $2.54,” Wells Fargo writes. “Our year end 2011 base case valuation goes to $49 from $41.” Wells Fargo said that its estimate revision stems largely from increased systems revenue related to the recently announced Canada systems contract. Bally Technologies currently trades at $42.01.